Wales in bottom half of list of prosperous areas
SHAREWATCH
WALES has some of the least prosperous areas in the UK in a new index based on institutional, economic and social wellbeing factors from think-tank the Legatum Institute.
Its UK Prosperity Index, which it said it will use to gauge progress on the UK Government’s promise of “levelling up” the UK economy, is based on 256 indicators based from data (pre-Covid) to rank 379 local authority areas.
In Wales all 22 local authorities, bar the Vale of Glamorgan ranked at 158th, are in the bottom half of the index, with the lowest three ranked being Blaenau Gwent at 368th, Merthyr Tydfil 357th and Neath Port Talbot, 349th.
Cardiff is ranked 255th, Swansea 285th and Newport 339th.
The lowest ranked local authority in the UK is Blackpool at 379th with Woking top.
Based on 15 UK nations and regions, Wales is ranked ninth – having been ranked 14th in 2018 – above both Northern Ireland (10th) and Scotland (11th). The lowest ranked is Greater Manchester with the south east of England top.
While Wales has strengths in safety and security, governance, and the natural environment, compared to the rest of the UK, Wales performs
AEROSPACE & DEFENCE
Avon Rbbr ......................................£30 3/4 BAE Systems ..................................507 5/8 Chemring........................................295 1/2 Meggitt............................................480 1/4 Rolls-Royce.....................................104 1/4 Senior...............................................106 1/8
AIM
600 Group ........................................ 11 1/2 Johnson Service Grp ..................166 5/8 London Security...........................£23 1/2 M”S Intl ................................................ 165 Mothercare ...................................... 15 3/4 Nichols............................................... 1490 Youngs............................................... 1475
BANKS
Barclays ...........................................178 1/4 HSBC Hldgs....................................443 3/4 Lloyds Banking Gp .............................47 NatWest Group.............................189 1/4 Standard Chartered....................507 3/8
BEVERAGES
Barr (AG).............................................. 522 Diageo ................................................. £33
CHEMICALS
Croda International.....................£65 3/8 Elementis 98..................................147 3/4 Johnsn Mat ....................................£32 3/8
CONSTRUCTION & MATERIALS
Balfour Beatty ...............................309 3/4 C”R”H ...............................................£35 3/8 Costain................................................57 1/8 Marshalls............................................. 736
ELECTRICITY
Drax Gp ............................................... 405 +4 3/4 SSE ......................................................1484 +36 1/2
ELECTRONIC & ELECTRICAL EQUIPMENT
Morgan Advanced.......................329 1/2 Ox Instmts ......................................£20 5/8 Volex..................................................... 317 +1/8 -2 3/8 +1 -4 3/8 -1/2 +1/8 -3/4
-1 -30 +60
-3 1/4 -1/8 -1/4 -1/4 -1 3/4
+7 +1/2 +7 5/8 -1 1/4 -1/8 -7/8 +6 -1/2 +1/8 -9 1/2 poorly in terms of living conditions, infrastructure, and conditions for enterprise.
All Welsh authorities are in the bottom 100 for “economic quality” and is the weakest part of the UK in terms of productivity and competitiveness, as well as the fiscal sustainability of its local authorities. Just 6.7% of Welsh businesses are hi-tech, which is the second lowest in the UK. Welsh local authorities have, on average, the lowest reserve to expenditure ratio in the UK.
The index and analysis shows that Wales has some of the most secure local communities with low rates of
EQUITY INVESTMENT INSTRUMENTS
Aberdeen Div Inc & Gro Trust.... 93 3/8 Alliance Trust ..................................... 945 Dunedin Inv....................................... 305 Edin Invst ............................................ 626 Electra Private Equity ..................... 500 F&C Investment Trust ..................... 823 Henderson Smllr Cos....................1228 North American Inc ........................ 268 +1 1/2 Scot Am...........................................476 1/2 +5 Scottish Mortgage ........................1100 +22 1/2 Witan .................................................... 231
FIXED LINE TELECOMMUNICATIONS
BT Grp .................................................. 159
FOOD & DRUG RETAILERS
Morrison (WM) .............................182 5/8 Sainsbury........................................259 1/4 Tesco ................................................227 3/8
FOOD PRODUCERS
AB Food...........................................£22 3/8 Carrs Group....................................145 1/2 REA Hldgs ......................................... 52 1/2 Tate Lyle ..........................................799 1/4 Unilever...........................................£42 3/4
GAS, WATER & MULTIUTILITIES
Centrica .................................................. 54 National Grid ..................................... 924 Pennon Grp......................................1033 Severn..............................................£24 3/4 United Utils....................................977 5/8
GENERAL FINANCIAL
3i Group ............................................ 1224 Close Bros.........................................1588 London StockExch.......................£70 7/8 Man Group.....................................163 1/4 Provident Financial ......................... 238 Schroders .......................................£34 7/8 Schroders NV.................................£25 3/4
GENERAL INDUSTRIALS
Smith (DS) ......................................415 3/8 SmithsGrp.......................................1542 -3/4 +2 -2 -2 -3 1/2 +5 -10
-1 3/4 -1/8 -3/8 -1/2 -1 1/2 -5/8 +3/8
-1 +4 1/4 +6 1/2 +1/8 +9
+26 -10 +1 1/8 +2 1/8 -3 5/8 -1/4 -1/4
+3/4 +7 crime, and the homicide rate of 7 per 100,000 population, compared to the UK average of 11.
The quality of local governance has also improved over the last decade with the Legatum Institute saying that Wales boasts strong local democracy, high local election voter turnout, and large numbers of people who believe that voting makes a difference.
It also cites Wales having low emissions and little air pollution, while there has been a substantial reduction in nitrogen dioxide concentration over the last decade.
Professor Matthew Goodwin, director of the Legatum Institute’s
GENERAL RETAILERS
Dixons Carphone.........................133 5/8 Inchcape .........................................781 1/2 Kingfisher .......................................361 1/4 M & S ................................................151 1/4 Next .................................................. £79 1/8 WH Smith .........................................1710
HEALTH CARE EQUIPMENT & SERVICES
Smith Nph........................................1513
HOUSEHOLD GOODS
Barratt Devel .................................752 3/8 Bellway............................................£35 1/8 Persimmon.....................................£30 3/4 Reckitt Benckiser .........................£63 1/4 Taylor Wimpey .................................. 174
INDUSTRIAL ENGINEERING
I”M”I .................................................... 1640 Molins .................................................. 158 Renold ............................................... 27 5/8 Spirax-Sarco................................ £118 1/2 Weir Grp ....................................... 1868 1/2
INDUSTRIAL METALS
Ferrexpo.............................................. 484
INDUSTRIAL TRANSPORTATION
Signature Avi..................................... 398
LIFE INSURANCE
Aviva.................................................401 3/4 Lgl & Gen ............................................ 278 Prudential.................................... 1475 1/2 Standard Life Aberdeen ................ 263
MEDIA
Daily Mail & Gen Tst ........................ 882 IT V ......................................................... 127 Pearson................................................ 848 Reach ...............................................222 1/2 RELX............................................... 1824 1/2 STV Group .......................................... 335 WPP ...................................................... 962 -9 1/2 -2 7/8 -1 1/4 +3/8 -10 +4 1/2
-3/4 -1/4 -1/8 +3/4 -7/8
+1
+5/8 +3/4 -25
-17 +1 3/8
-1 3/4 -3 3/4 -49 1/2
-1 3/4
+5 +3 -7 -10 +8 -7 1/2 -5 3/8
MINING
Anglo American ...........................£32 1/2 Antofagasta ..................................... 1818 BHP Group .....................................£22 1/2 Fresnillo............................................... 869 Rio Tinto .............................................. £63
MOBILE TELECOMMUNICATIONS
Vodafone Group ..........................139 1/2
NONLIFE INSURANCE
Admiral Grp ....................................... £29 Marsh McL.......................................... £96 RSA Ins Gp.......................................... 684
OIL & GAS PRODUCERS
BP ......................................................308 3/8 Cairn Energy ..................................168 3/4 Premier Oil ....................................... 20 3/4 Royal Dutch Shell A.................. 1382 3/8 Royal Dutch Shell B.................. 1325 1/4 Total..................................................£33 3/8 Tullow Oil.......................................... 52 7/8
OIL EQUIPMENT & SERVICES
Petrofac...........................................138 1/2 Wood Gp(J)....................................267 1/4
PERSONAL GOODS
Burberry Gp...................................£20 1/8 PZ Cussons ......................................... 246
PHARMACEUTICALS & BIOTECHNOLOGY
Astrazeneca ...................................£78 1/2 GlaxoSmithKline ....................... 1353 3/8
REAL ESTATE
Brit Land..........................................515 3/4 Hammerson..................................... 34 7/8 Land Securities.............................711 5/8 SEGRO..............................................993 5/8
+1/4 +1 3/8
+1/4
-6 7/8 -2 3/4
-3/4 -30 5/8 -28 5/8
-3/8 -1 7/8
-1 3/4 -18
-7/8 -2 1/2 +5/8 +5 5/8
-7 3/8 -1 3/8 -7 5/8
+5/8
SOFTWARE & COMPUTER SERVICES
Computacenter............................£25 7/8 Sage Group....................................623 5/8
Centre for UK Prosperity, said: “The UK Prosperity Index is the most ambitious assessment of prosperity across the country to date.
“With detailed data on all boroughs and council areas, it is a transformational tool that can help policy makers and influencers target their interventions more effectively on the journey towards greater prosperity.
“The Index will be updated annually, allowing citizens, businesses, local authorities, regions, and national government to track progress over time and hold decision-makers to account.
“The -1 1/2 -42 1/2 -7/8 -27 3/4 -2 3/4
-5/8 +1/4 -1 3/4 holistic and
SUPPORT SERVICES
Bunzl ................................................£22 7/8 Capita................................................. 41 3/8 De La Rue............................................ 178 Elctro Com........................................1011 Electrocomp .................................... 1011 Experian..........................................£26 3/8 Hays..................................................163 7/8 Homeserve.......................................1026 Menzies J ............................................ 315 Redde Northgate............................. 250 Rentokil ...........................................467 1/2 Smiths News.........................................43 Travis & P...........................................1621
TECHNOLOGY HARDWARE & EQUIPMENT
IBM ................................................. £102 1/2 Spirent Comms.............................245 1/4
TOBACCO
Br Am Tob .......................................£28 1/4 Imperial Brands .............................. 1580
TRAVEL & LEISURE
rigorous
Carnival ........................................ 1510 3/8 Compass Grp...................................1522 easyJet.......................................... 1005 1/2 FirstGroup .............................................78 Go-Ahead Gp ..................................1263 Intercontl Htls...............................£48 1/8 Intl Cons Airl ..................................191 7/8 Marston’s........................................... 96 7/8 Mitchells & Butlers........................... 309 Natl Express ...................................289 1/4 Rank Org.........................................180 3/8 Restaurant Grp .............................124 3/8 Ryanair...........................................1428 1/8 Stagecoach Group ........................ 84 3/8 Whitbread ......................................£30 5/8 +1/8 +3 1/4 +9 +9 +1/8 -1 1/8 -2 -9 1/2
-1/4 -1 1/4 -3 +1 3/4 -1 1/4 -20
-19 1/4 +12 -15 1/2 +1 1/4 +1
-1 3/4
+3/8 -2 5/8 -4 3/8
-6 -3 3/8 -8 5/8
-3
INDEX FTSE 100 ........................... 6963.33 -41.30 FTSE 250 ......................... 22069.31 -38.53
approach we have taken has allowed us to identify issues that have previously been missed in the discussion about how to level-up the country.
“It highlights that while Wales performs well on the safety and security of communities and governance, we also need to invest in areas such as living conditions and the business environment, as well as building inclusive and resilient communities, if we are to see all citizens reach their full potential.
“We hope our index will help leaders across Wales set their agendas and implement strategies that will unlock real prosperity.”
SION BARRY